Dubai Commercial Property Overview:
Dubai is a city undergoing extraordinary growth at present. With a population size that looks set to at least double over the next decade, this breath taking rate of development is only set to accelerate. The introduction of freehold property law in 2002 was the initial impetus to kick start the housing boom, as were spectacular property developments from Emaar and Nakheel. Whilst residential freehold property may have been the initial focus for Dubai property buyers, it is now commercial property that is coming to the forefront. Dubai has long been a trading hub for the Middle East. Its central position as a gateway between the East and West has afforded it many advantages over the ages. It is upon this reputation that developments such as Dubai Business Bay and Dubai Investment Park look set to build on with some luxury office that are already fitted out and serviced ready to use.
Dubai has not only set out to become the world's premium tourist destination with its many projects such as Dubailand, Culture Village and City Of Arabia, but also to become the place to do business within the Middle East and Asia. Many companies have already taken advantage of Dubai's generous tax laws and set up their regional offices, some have even relocated their headquarters to Dubai. As Dubai's population continues to expand, more and more companies are starting to realise the strategic advantages of an office here, as a result of which, demand for commercial property within the Emirate is very much on the increase.
Companies and investors are starting to see the distinct benefits of purchasing commercial property here. For any company, purchasing commercial property allows them to avoid the high office rents that are currently charged throughout Dubai. Investors can make great returns on their initial investments over very short periods of time. Even with projects like Dubai Media City and Jumeirah Lake Towers completed, and with the likes of Schon Business Park, Dubai Business Bay and Jumeirah Village South on the way, there still remains a large undersupply of commercial property in Dubai.